Brokerages, finance-banking firms lift stock market

The group said in its management board’s resolution issued recently that the divestment will be carried in 2017 and divided into two stages. In the first stage, FPT will sell 30% to institutional investors to reduce its ownership to 55% from the current level of 85%. Secondly, FPT will sell a maximum of 10% of its remaining stake in the retail and distribution arm to other investors via an initial public offering (IPO). According to the Nikkei Asian Review, the sales of the distribution and retail arm could bring about VND2.3-2.7 trillion (US$103-121 million) to the firm. The sale income could be used to improve its technological infrastructure and provide new telecommunication services. At the group’s annual shareholder meeting held in April, the group chairman Truong Gia Binh said selling the distribution and retail arm was a must so FPT could become a pure ICT group with rapid growth. HCM City Securities Corporation (HSC) said in a report that the deal could be finalised in the third quarter of this year. According to HSC, the IPO price has not been determined as FPT did not want its shares to be owned by a single investor, however, it could be lower than the share price of Mobile World Corporation. HSC also said that FPT Retail could trade on the HCM Stock Exchange (HOSE) in 2018. Shares of FPT, listed on the HOSE under code FPT, closed on August 2 up…... [read more]

Hanoi, August 3 (VNA) - Information technology group FPT Corporation (FPT) has announced it will reduce its ownership in its retail arm FPT Technology Production Distribution and Retail to below 50 percent.  The group said in its management board’s resolution issued recently that the divestment will be carried in 2017 and divided into two stages.  In the first stage, FPT will sell 30 percent to institutional investors to reduce its ownership to 55 percent from the current level of 85 percent.  Secondly, FPT will sell a maximum of 10 percent of its remaining stake in the retail and distribution arm to other investors via an initial public offering (IPO).  According to the Nikkei Asian Review, the sales of the distribution and retail arm could bring about 2.3-2.7 trillion VND (103-121 million USD) to the firm. The sale income could be used to improve its technological infrastructure and provide new telecommunication services.  At the group’s annual shareholder meeting held in April, the group chairman Truong Gia Binh said selling the distribution and retail arm was a must so FPT could become a pure ICT group with rapid growth.  HCM City Securities Corporation (HSC) said in a report that the deal could be finalised in the third quarter of this year.  According to HSC, the IPO price has not been determined as FPT did not want its shares to be owned by a single investor, however, it could be lower than the share price of…... [read more]

Inside a FPT Shop store in Dan Phuong district, Hanoi (Photo: fptshop.com.vn) Hanoi (VNA) - Information technology group FPT Corporation (FPT) has announced it will reduce its ownership in its retail arm FPT Technology Production Distribution and Retail to below 50 percent. The group said in its management board’s resolution issued recently that the divestment will be carried in 2017 and divided into two stages. In the first stage, FPT will sell 30 percent to institutional investors to reduce its ownership to 55 percent from the current level of 85 percent. Secondly, FPT will sell a maximum of 10 percent of its remaining stake in the retail and distribution arm to other investors via an initial public offering (IPO). According to the Nikkei Asian Review, the sales of the distribution and retail arm could bring about 2.3-2.7 trillion VND (103-121 million USD) to the firm. The sale income could be used to improve its technological infrastructure and provide new telecommunication services. At the group’s annual shareholder meeting held in April, the group chairman Truong Gia Binh said selling the distribution and retail arm was a must so FPT could become a pure ICT group with rapid growth. HCM City Securities Corporation (HSC) said in a report that the deal could be finalised in the third quarter of this year. According to HSC, the IPO price has not been determined as FPT did not want its shares to be owned by a single…... [read more]

Inside a FPT Shop store in Dan Phuong District, Ha Noi. — Photo fptshop.com.vn Information technology group FPT Corporation (FPT) has announced it will reduce its ownership in its retail arm FPT Technology Production Distribution and Retail to below 50 per cent. The group said in its management board’s resolution on Tuesday that the divestment will be carried in 2017 and divided into two stages. In the first stage, FPT will sell 30 per cent to institutional investors to reduce its ownership to 55 per cent from the current level of 85 per cent. Secondly, FPT will sell a maximum of 10 per cent of its remaining stake in the retail and distribution arm to other investors via an initial public offering (IPO). According to the Nikkei Asian Review, the sales of the distribution and retail arm could bring about VND2.3-2.7 trillion (US$103-121 million) to the firm. The sale income could be used to improve its technological infrastructure and provide new telecommunication services. At the group’s annual shareholder meeting held in April, the group chairman Truong Gia Binh said selling the distribution and retail arm was a must so FPT could become a pure ICT group with rapid growth. HCM City Securities Corporation (HSC) said in a report that the deal could be finalised in the third quarter of this year. According to HSC, the IPO price has not been determined as…... [read more]

Listed firms remain reluctant to lift their foreign ownership limit for fear that they will be treated as a non-Vietnamese entity. Effective since September 2015, Decree 60/2015/ND-CP has paved the way for listed Vietnamese firms to raise the foreign ownership cap to 100 per cent. However, nine months after this decree took effect, there are still less than 20 listed firms that have opened themselves completely to foreign investment. This slow progress has dampened the enthusiasm of overseas investors, who have waited a long time to invest in good-quality Vietnamese firms. "We value the government’s intention to open up the foreign ownership limit in the stock market, as evidenced by Decree 60. However, the impact of this regulation on the stock market has been very limited. For example, very few of approximately 700 listed companies, or 1,000 companies if we include the unlisted stock exchange, have been able to increase their foreign ownership limits so far," executive chairman of Dragon Capital, Dominic Scriven, told VIR. One of the key reasons, according to Scriven, is that the authorities are still confused between the concepts of foreign direct investment (FDI), which comes under Investment Law, and foreign indirect investment via the stock markets, regulated by the Securities Law. According to the Investment Law, a company in which foreign investors hold 51 per cent or more of charter capital is considered a foreign-owned entity and subject to the rules and restrictions on FDI firms. This has proven to be problematic for listed firms…... [read more]

Vietnamese shares rose on both local exchanges on Friday, led by the finance-banking sector after Asia Commercial Bank released its second-quarter earnings report. (Source: VNA) Hanoi (VNA) - Vietnamese shares rose on both local exchanges on July 28, led by the finance-banking sector after Asia Commercial Bank released its second-quarter earnings report. The benchmark VN Index on the HCM Stock Exchange gained 0.72 percent to close at 777.09 points, rebounding from the previous day’s loss of 0.3 percent. The HNX Index on the Hanoi Stock Exchange rose 0.93 percent to end at 100.55 points. The northern market index has rallied 3.7 percent in the last four sessions. The VN Index rose 2 percent for the week and the HNX Index increased by 2.6 percent. The two local indices also posted weekly gains after July 28. The VN Index rose 2 percent for the week and the HNX Index increased by 2.6 percent. More than 278.7 million shares were traded on both local bourses, worth 4.75 trillion VND (211.4 million USD). The July 28 trading figures were 38 percent and 33 percent higher in volume and value, respectively, compared to July 27’s. The stock market was boosted after Asia Commercial Bank (ACB) released its second-quarter earnings report.  The HNX-listed bank reported its post-tax profits in the second quarter rose 42 percent year-on-year to 501 billion VND, making its post-tax profit for the first six months of this year of 1.26 trillion…... [read more]

Vietnamese shares rose on both local exchanges on Friday, led by the finance-banking sector after Asia Commercial Bank released its second-quarter earnings report.— Photo bizlive.vn Vietnamese shares rose on both local exchanges on Friday, led by the finance-banking sector after Asia Commercial Bank released its second-quarter earnings report. The benchmark VN Index on the HCM Stock Exchange gained 0.72 per cent to close at 777.09 points, rebounding from Thursday’s loss of 0.3 per cent. The HNX Index on the Ha Noi Stock Exchange rose 0.93 per cent to end at 100.55 points. The northern market index has rallied 3.7 per cent in the last four sessions. The two local indices also posted weekly gains after Friday. The VN Index rose 2 per cent for the week and the HNX Index increased by 2.6 per cent. More than 278.7 million shares were traded on both local bourses, worth VND4.75 trillion (US$211.4 million). Friday’s trading figures were 38 per cent and 33 per cent higher in volume and value, respectively, compared to Thursday. The stock market was boosted after Asia Commercial Bank (ACB) released its second-quarter earnings report. The HNX-listed bank reported its post-tax profits in the second quarter rose 42 per cent year-on-year to VND501 billion, making its post-tax profit for the first six months of 2017 VND1.26 trillion. ACB shares advanced 1.6 per cent, lifting other bank shares such as MBBank (MBB), Eximbank (EIB) and Bank for Investment and…... [read more]

Vietnamese shares rose on both local exchanges on Friday, led by the finance-banking sector after Asia Commercial Bank released its second-quarter earnings report. Vietnamese shares rose on both local exchanges on Friday, led by the finance-banking sector after Asia Commercial Bank released its second-quarter earnings report.- Photo bizlive.vn The benchmark VN Index on the HCM Stock Exchange gained 0.72 per cent to close at 777.09 points, rebounding from Thursday’s loss of 0.3 per cent. The HNX Index on the Ha Noi Stock Exchange rose 0.93 per cent to end at 100.55 points. The northern market index has rallied 3.7 per cent in the last four sessions. The two local indices also posted weekly gains after Friday. The VN Index rose 2 per cent for the week and the HNX Index increased by 2.6 per cent. More than 278.7 million shares were traded on both local bourses, worth VND4.75 trillion (US$211.4 million). Friday’s trading figures were 38 per cent and 33 per cent higher in volume and value, respectively, compared to Thursday. The stock market was boosted after Asia Commercial Bank (ACB) released its second-quarter earnings report. The HNX-listed bank reported its post-tax profits in the second quarter rose 42 per cent year-on-year to VND501 billion, making its post-tax profit for the first six months of 2017 VND1.26 trillion. ACB shares advanced 1.6 per cent, lifting other bank shares such as…... [read more]

Viet Nam News HÀ NỘI - Shares rose on both local bourses yesterday as bank stocks bounced back on expectations for positive 2016 earnings reports and energy firms recovered on upward moves in oil prices. The benchmark VN Index on the HCM Stock Exchange gained 0.9 per cent to close at 687.16 points. The southern bourse index on Tuesday fell 0.2 per cent after rallying 2.9 per cent in seven days. The HNX Index on the Hà Nội Stock Exchange continued to advance for a fourth session, adding 0.5 per cent to end at 83.49 points. The northern market index has increased by 2.7 per cent since January 5. More than 132 million shares were traded on both local bourses, worth VNĐ2.7 trillion (US$120.66 million). Bank stocks continued to play key role to lift the national stock market up. Six of the nine listed banks made gains, including Asia Commercial Bank (ACB), BIDV (BID) and Vietinbank (CTG). Those bank stocks rose 2.9 per cent, 3.1 per cent and 4.7 per cent, respectively. BID was also the most active stock with nearly 7.3 million of its shares being exchanged. According to Nguyễn Ngọc Lan, Agribank Securities Company's head of brokerage division, bank stocks may extend their gains this year as investors are betting on their positive earnings reports for 2016. "Bank stocks are also supported by some information such as the decision of the central bank to allow Vietcombank, BIDV and Vietinbank - the three State-owned commercial banks - to increase…... [read more]

Rubber, steel stocks seen attracting buyers Kim Ngan HCMC – Stocks in the rubber, steel, real estate and petroleum sectors will likely attract investors in the coming time, according to securities companies. Nguyen Ngoc Lan, head of brokerage at Agribank Securities Company, told Dau tu Chung khoan newspaper that those stocks benefiting from rising commodity prices will rise strongly, probably until 2017. She added that Vietjet Air, Vietnam Airlines and Novaland shares will be listed and will certainly become stock market darlings as these are leading businesses in their sectors. Stocks performed well last week as the VN-Index added 1.83% from the previous week at 675.16 points and the HNX-Index inched up 0.14% at 79.71 points. The average matched volume leapt 38.11% to 132.4 million shares per session on the HCMC bourse, but contracted 21% to 36.7 million shares per session on the Hanoi market. Vietstock.vn attributed the rising trading volume on the southern exchange to a sharp increase in HQC’s liquidity and portfolio rebalancing activities of exchange traded funds. The VN-Index ended down in the first two sessions last week given losses of various large caps like VNM, CTG, ROS and BVH and speculative stocks. Bottom fishing turned strong in the next session, thus prompting the main index to make gains last Wednesday. The market rally was broad-based as large-, mid- and small-cap stocks all stayed in positive territory. Notably, realty developer HQC attracted buyers with its trading volume surpassing 78 million shares but other stocks reported sluggish trade.…... [read more]




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